Salt Lake Tribune | 1917-02-15 | Page 12 | Ohio Copper has Wealth in Sight

Oil COPPER IS ; mm sight Company, Under Present Conditions, Making Net Profit of $350,000. FIGURES SUBMITTED New Equipment When Installed In-stalled Will Handle Ore at Greater Profit. Announcement was made only a few days aso that the Ohio Copper company of Utah, now under the reorganization j'la.ns, opera. tins the old Ohio Copper proprty of Bingham, was Installing two experimental flotation systems for the big mill of Its Binsham property and would, after a thorough test, use either one or toth processes in the. treatment of Ita ore. That the Ohio property is one of the hU'Gpt in the big camp of big- mines Is not doubted by mine experts who have made- an exhaustive examination of the property. Savings at Present. The Ohio company is at present handling han-dling about 2000 tons of ore per day, carrying car-rying .9 of 1 per cent copper. Only 45 per cent of the values are saved under present operating conditions, but even at this rate, at the present price of copper, lhi -company is earning:, according to the Htatements of experts, net profits at the rare of $5(t,uuo pr year. But this is only a small part of the story. It is well understood in mining r-iiY-les thn t the reorganization of the Ohio company spelled the desire and Intent In-tent on the part of heavy stock holders tn take advantage of the present high price of thev metals and to handle the big ore bodies with a greater peroentage of caving. Millions in Sight. Conservative estimates by eminent cn-p cn-p infers who have examined the prop-en- show that the company has in sight or demonstrated at least 10,000,000 tons tif ore that carries values of .8 of 1 per mt copper, and the mining experts de- Uire that when the ne-w flotation proe-fses proe-fses are placed in full commission to handle the tonnage a saving of 85 per cent or better will be obtained. Figured on this basis, oven with the handling of only 000 tons per day. the roil i puny ca n. on its .8 per cent copper ore,- earn y;tM.0jO per year, even though ( lie . red metal should be worth only 15 cms per pound, which seems extremely unlikelv. un th.c basis of 2$ cents per pound the company will earn net profits of u,000 per year, a t:d at 30 cents per pound, a lii tb- loss than Lhe present selling price, lac earnings will amount to $1,780,000 per yeur. XL is stated that the figures given by thn engineers as to the values of the ore tmj ultra-conservative, and It Js probable that the capacity of Mho plant will be augmented rather than diminished. .